General Motors (NYSE:GM) Position Cut by Ancora Advisors LLC

Ancora Advisors LLC lessened its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 27.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,847 shares of the auto manufacturer’s stock after selling 3,328 shares during the quarter. Ancora Advisors LLC’s holdings in General Motors were worth $471,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Golden State Wealth Management LLC acquired a new position in shares of General Motors in the 4th quarter worth $25,000. Crews Bank & Trust purchased a new stake in General Motors during the fourth quarter valued at about $26,000. Compass Planning Associates Inc acquired a new position in shares of General Motors in the fourth quarter worth about $27,000. Whittier Trust Co. increased its position in shares of General Motors by 551.9% in the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock worth $27,000 after acquiring an additional 425 shares in the last quarter. Finally, Duncker Streett & Co. Inc. raised its holdings in shares of General Motors by 9,960.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after acquiring an additional 498 shares during the period. Institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

GM has been the subject of a number of research analyst reports. Sanford C. Bernstein lowered shares of General Motors from a “market perform” rating to an “underperform” rating and reduced their price target for the stock from $50.00 to $35.00 in a research report on Monday, April 7th. Cowen began coverage on shares of General Motors in a research report on Thursday, March 6th. They issued a “buy” rating for the company. Piper Sandler lifted their target price on shares of General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, March 20th. Citigroup began coverage on shares of General Motors in a research note on Wednesday, April 23rd. They issued a “buy” rating and a $62.00 price target on the stock. Finally, TD Cowen started coverage on General Motors in a research report on Friday, March 7th. They set a “buy” rating and a $105.00 price objective for the company. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, General Motors currently has an average rating of “Hold” and an average price target of $54.22.

General Motors Price Performance

Shares of NYSE:GM opened at $45.37 on Tuesday. The firm has a market capitalization of $43.84 billion, a PE ratio of 7.38, a PEG ratio of 0.67 and a beta of 1.36. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. General Motors has a 1-year low of $38.96 and a 1-year high of $61.24. The business’s 50 day moving average is $46.70 and its 200-day moving average is $50.22.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, beating the consensus estimate of $2.63 by $0.15. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The business had revenue of $44.02 billion for the quarter, compared to analyst estimates of $42.64 billion. During the same quarter in the previous year, the firm earned $2.62 EPS. General Motors’s quarterly revenue was up 2.3% on a year-over-year basis. Sell-side analysts predict that General Motors will post 11.44 earnings per share for the current year.

General Motors declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

General Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.32%. The ex-dividend date is Friday, June 6th. This is a boost from General Motors’s previous quarterly dividend of $0.12. General Motors’s payout ratio is 8.65%.

General Motors Company Profile

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.